The number one site detailing the coming economic depression

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“When I use the phrase 25 year depression, it sounds extreme but it’s not. We had a 30 year depression in the United States from about 1870 to 1900…The Great Depression lasted from about 1929 to 1940. The U.S. is in a depression today.”
Well, it's been in the works for

"One of the reasons that Canadians (and international commentators, other finance ministers and global financial institutions) buy this Canadian banking fairy tale is the way the government accounts for the money borrowed to support the banks."
The sorry spectacle of Conservat

Get rid of your loans, guys and gals, because we are going into a high interest rate period. Very high. It will be the equivalent of going into the double digit interest rates we had in the 80s where many people threw their house keys at the bank and we had record numbers of ba

"We know that cigarettes have thousands of chemicals in them and we know that they are killing us. They have been for over a hundred years. So now, the e-cig industry comes along with only one or two chemicals in their mixture and people are freaking out over these as well. Whe

Federal prosecutors are nearing criminal charges against some of the world’s biggest banks, according to lawyers briefed on the matter, a development that could produce the first guilty plea from a major bank in more than two decades.
In doing so, prosecutors are confronting

“The assurance of relatively low borrowing costs has likely given home buyers confidence while rising home values have kept new listings at a healthy level. Stable employment has provided some assurance to owners and buyers alike.”
Our website is back after many months of

"Much like today, Americans were concerned not only with high unemployment but increasing budget deficits in the early 1980s. A September 1983 Gallup poll found that three-fourths of the public agreed that the federal government's budget deficit was a great threat (42%) or some

"Without the intervention of economic policymakers, interest rates would be naturally higher. That would increase the cost of borrowing for businesses and consumers, but there would be some offsetting economic benefits. Savers are getting screwed by the current monetary policy

"Never in our history has Congress failed to increase the debt limit when necessary. Failure to raise the limit would precipitate a default by the United States. Default would effectively impose a significant and long-lasting tax on all Americans and all American businesses

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." -- Henry Ford
Basically what the world central banks are doing is increasing their money by devaluin

"America, Britain, Japan, Germany, France, Sweden, Holland, Norway, Canada and Australia make up the Fishmongers Group and their meeting on Tuesday will deliberate on the state of the inclusive government, debt relief, public finance administration and the controversial economi

""The United States is going to China and saying: we want you to commit economic suicide, just like Japan did. We want you to follow the same thing: we want you to revalue your currency, we want you to squeeze your companies, we want you to go bankrupt,” says Michael Hudson,

Content By: The Coming Depression Editorial Staff (dates cited below)
Copyright: include link to this article on top of reproduction if you use it.

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Retail sales are an important economic indicator because consumer spending fuels a large part of first world economies. Inded, think of all persons and companies involved in the production, distribution and sale of products that you use on a daily basis, like food, clothing, fuel, and other items.

September comparable sales managed to show a small gain on a calendar shift, delayed back-to-school sales and weak comparison to the previous year. Teenage retail related sales were soft in the month.

1:00 PM New York – September comparable sales managed to show a small gain on a calendar shift, delayed back-to-school sales and weak comparison to the previous year. Teenage retail related sales were soft in the month.

After months of sales decline, comparable store sales showed a mild increase in September. Heavy discounting played a significant role in arresting sales fall.

Large and small retail chains managed to show a small rise in sales according to the latest data collected by Thomson Reuters and the International Council of Shopping Centers.

Calendar shift and easier comparison also played a role in the showing a better than expected results. Back-to-school season was pushed in the month from August and a year ago sales were dropping in double digits at most chains.

When consumers open their pocketbooks, the economy tends to heat up; retail shelves begin to empty and orders for replacement goods. The plants produce more widgets and raw materials in order for more to come in. This is the law of supply and demand.

If consumers start to feel uncertain about their financial future and decide to post pone purchases of new washing machines, cars, or blue jeans, the economy starts to slow. This is why politicians have resorted to tax cuts to give the economy a boost with their so called stimulus plans; by putting cash into the hands of consumers and having money easier to lend from banks, they hoped to spend their way out of recession. The problem in many first world countries is that their productive capacities have been gutted to third world nations working for slave labor.

Also, the other problem we have now is that the banks are unreluctant to lend money for major purchases. This is why the government has provided stimulus funds, but it is bound to fail because all they are doing is printing money that is not based on anything. It is comparable to lending money to someone when you do not have any money. The lender keeps lending IOU notes essentially, and eventually it will collapse.

Retail report: holiday sales to drop this year

Consumers are still hesitant to spend. For the year, retail sales are expected to decline about 3 percent, says the National Retail Federation.

New York

The retail environment has been daunting for months. And the consumer malaise won’t lift anytime soon, according to one projection Tuesday: Sales this holiday season will be 1 percent lower than last year, says the normally optimistic National Retail Federation (NRF).

If this happens, it would be the second year in a row of declining holiday sales – the first time in 40 years that sales have dropped two years running. Last year, holiday sales were down 3.4 percent.

“This is a very realistic view of what’s happening in retail,” says Scott Krugman, vice president for public affairs for NRF in Washington. “The rate of decline is not so bad, but the reality is this is not a consumer-led recovery and the consumer is not back yet.”

How retailers manage the season could have implications for the economy. If they agree with the NRF analysis, they’re likely to offer more-than-usual discounts and promotions to attract customers. They’re also likely to keep inventory low from the get-go so they’re not stuck with a glut of product in January.

“This is the year consumers can lose the game of chicken,” Mr. Krugman says. “It’s not wise to put off most shopping for the last minute.”

Although the NRF has projected the 1 percent decline in holiday sales, it could be worse. Retail sales for the entire year are expected to decline about 3 percent.

The consumer has been hesitant all year because of declining housing prices and job insecurity. On the positive side, the stock market has staged a significant rally, and retail sales in August – the back-to-school season – were better than expected.

2009 Retail sales plunge by record amount“Economists are worried about consumer spending in the months ahead given their forecasts that unemployment, currently at 10 percent, will keep rising until perhaps midyear.” Obviously the only way sustainable...

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Jobless rate reaches 9.8 percent in SeptemberCHRISTOPHER S. RUGABER (AP) The U.S. unemployment rate rose to 9.8 percent in September, the highest since June 1983, as employers cut far more jobs than expected. The report shows...

Cash For Clunkers Program Was FailureBy Mira Oberman (AFP) CHICAGO — US auto sales plunged 22.7 percent in September after the end of the popular “Cash for Clunkers” program left cautious consumers with few reasons...

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